Substitute Credit Support definition

Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).
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Substitute Credit Support shall have the meaning assigned in Section 6.5(e) hereof.
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Substitute Credit Support has the meaning specified in Paragraph 4(d)(i). “Substitution Date” has the meaning specified in Paragraph 4(d)(ii).
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Examples of Substitute Credit Support in a sentence

  • However such consent is not to be unreasonably withheld and the parties agree that not wanting to accept a particular type of Substitute Credit Support is not in itself a reasonable basis for withholding consent if the Substitute Credit Support is Eligible Collateral.

  • On the Business Day following the day on which the Substitute Credit Support is delivered to Buyer, Buyer shall return to Seller the items of Credit Support specified in Seller’s notice; provided, however, that Buyer shall not be required to return the specified Posted Collateral if immediately after such return, Seller would be required to post additional Credit Support pursuant to Sections 6.2(a) and 6.2(b).

  • The proceeds of (1) any payment made pursuant to Section 2.01 of the NEG Guarantee or (2) any payment made pursuant to a Substitute Credit Support Instrument, shall be applied promptly upon receipt thereof by the Security Agent to the payment in whole of the Tranche A Loans as required by Section 6.5(a)(i) of the Participation Agreement, together with all accrued interest and other amounts due in respect of the Tranche A Loans.

  • On the Business Day following the day on which the Substitute Credit Support is delivered to Buyer, Buyer shall return to Seller the items of Credit Support specified in Seller’s notice; provided, however, that Buyer shall not be required to return the specified Posted Collateral if, immediately after such return, Seller would be required to post additional Credit Support pursuant to Sections 6.2(a) and 6.2(b).

  • Notwithstanding anything to the contrary contained in Paragraph 4(d) of the Credit Support Annex, consent of the Secured Party shall be required in order that a party be permitted to Transfer Substitute Credit Support hereunder, provided, however, that such consent shall not be unreasonably withheld or delayed.

  • The Pledgor must obtain the Secured Party's consent for any substitution pursuant to Paragraph 4(d) However such consent is not to be unreasonably withheld and the parties agree that not wanting to accept a particular type of Substitute Credit Support is not in itself a reasonable basis for withholding consent if the Substitute Credit Support is Eligible Collateral.

  • For purposes of this Agreement and the Guarantee, Substitute Credit Support Agreement shall mean an irrevocable letter of credit issued to the Guaranteed Parties from a bank or trust company whose unsecured senior long term debt is rated at least “A” by S&P and “A2” by Xxxxx’x in substantially the form attached as Exhibit B.

  • However such consent is not to be unreasonably withheld and the parties agree that not wanting to accept a particular type of Substitute Credit Support is not in itself a reasonable basis for withholding consent 37 if the Substitute Credit Support is Eligible Collateral.

  • Substitute Credit Support”) in substitution for some or all of the Posted Collateral (the “Original Credit Support”), provided that the Substitute Credit Support must have a Margin Value (as defined and determined in accordance with the Account Control Agreement) equal to the Original Credit Support (a “Posted Collateral Substitution”).

  • Within ten (10) days of the receipt of such Substitute Credit Support Agreement, Guaranteed Parties shall return to Assignee the Guarantee together with any certificate or other documentation that may be reasonably required to effect the cancellation of the Guarantee.


More Definitions of Substitute Credit Support

Substitute Credit Support has the meaning assigned to that term in Section 3.06(a).
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Substitute Credit Support shall have the meaning set forth in Section 6.5(e) hereof. “Summer Period” shall mean the months of June through September.
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Substitute Credit Support shall have the meaning assigned in Section 6.5(e) hereof. “Term” shall have the meaning set forth in Section 2.2(a) hereof.
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Substitute Credit Support has the meaning specified in Paragraph 4(d)(i). “Substitution Date” has the meaning specified in Paragraph 4(d)(ii). “Threshold” means, with respect to a party, the amount specified as such for that party in Paragraph 13; if no amount is specified, zero. “Transfer” means, with respect to any Eligible Credit Support, Posted Credit Support or Interest Amount, and in accordance with the instructions of the Secured Party, Pledgor or Custodian, as applicable: (i) in the case of Cash, payment or delivery by wire transfer into one or more bank accounts specified by the recipient; (ii) in the case of certificated securities that cannot be paid or delivered by book-entry, payment or delivery in appropriate physical form to the recipient or its account accompanied by any duly executed instruments of transfer, assignments in blank, transfer tax stamps and any other documents necessary to constitute a legally valid transfer to the recipient; (iii) in the case of securities that can be paid or delivered by book-entry, the giving of written instructions to the relevant depository institution or other entity specified by the recipient, together with a written copy thereof to the recipient, sufficient if complied with to result in a legally effective transfer of the relevant interest to the recipient; and (iv) in the case of Other Eligible Support or Other Posted Support, as specified in Paragraph 13.
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Substitute Credit Support has the meaning assigned to that term in Section 306(a).
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Substitute Credit Support has the meaning specified in Paragraph 4(d)(i). "Substitution Date has the meaning Specified in Paragraph 4(d)(ii). "Threshold" means, with respect to a party, the amount specified as such for that party in Paragraph 13; if no amount is specified, zero.
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Related to Substitute Credit Support

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Credit Support Instrument" "Credit Support Provider"

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • credit supporter means a person or company that provides a guarantee or alternative credit support for any of the payments to be made by an issuer of securities as stipulated in the terms of the securities or in an agreement governing rights of, or granting rights to, holders of the securities;

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • S&P Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Credit Support Provider has the meaning specified in the Schedule.

  • Credit Support Balance means, with respect to a Transferor on a Valuation Date, the aggregate of all Eligible Credit Support that has been transferred to or received by the Transferee under this Annex, together with any Distributions and all proceeds of any such Eligible Credit Support or Distributions, as reduced pursuant to Paragraph 2(b), Paragraph 3(c)(ii) or Paragraph 6. Any Equivalent Distributions or Interest Amount (or portion of either) not transferred pursuant to Paragraph 5(c)(i) or (ii) will form part of the Credit Support Balance.

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class M...................4.25% Class B-1.................2.30% Class B-2.................1.50% Class B-3.................1.00% Class B-4.................0.55% Class B-5.................0.20%

  • Posted Credit Support means Posted Collateral and Other Posted Support.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Credit Support Annex means the Credit Support Annex annexed to this Agreement.

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • Substitute Commercial Paper Dealers means such Substitute Commercial Paper Dealer or Dealers as the Corporation may from time to time appoint or, in lieu of any thereof, their respective affiliates or successors.

  • Excluded Swap Obligation means, with respect to any Guarantor, (a) any Swap Obligation if, and to the extent that, all or a portion of the Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (i) by virtue of such Guarantor’s failure to constitute an “eligible contract participant,” as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 11.12 and any other applicable agreement for the benefit of such Guarantor and any and all applicable guarantees of such Guarantor’s Swap Obligations by other Loan Parties), at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Guarantor is a “financial entity,” as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and the Approved Counterparty applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the Swap for which such guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Other Eligible Support means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.